Assurant (NYSE:AIZ) Releases Quarterly Earnings Results

Assurant (NYSE:AIZ) posted its quarterly earnings results on Tuesday. The financial services provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.52 by $0.48, Briefing.com reports. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.29 earnings per share.

Assurant Stock Performance

Shares of Assurant stock traded down $0.53 on Thursday, reaching $205.84. 310,520 shares of the stock were exchanged, compared to its average volume of 345,617. Assurant has a 1-year low of $158.29 and a 1-year high of $208.67. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The business has a fifty day moving average price of $194.91 and a two-hundred day moving average price of $181.12. The firm has a market capitalization of $10.66 billion, a PE ratio of 13.71, a PEG ratio of 2.04 and a beta of 0.57.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a $0.72 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.40%. Assurant’s payout ratio is 19.19%.

Insider Transactions at Assurant

In other Assurant news, EVP Martin Jenns sold 1,500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the transaction, the executive vice president now directly owns 4,027 shares in the company, valued at approximately $717,329.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Assurant news, EVP Martin Jenns sold 1,500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the sale, the executive vice president now owns 4,027 shares of the company’s stock, valued at $717,329.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the sale, the chief accounting officer now directly owns 3,152 shares in the company, valued at $593,962.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

AIZ has been the subject of several research reports. Keefe, Bruyette & Woods boosted their price target on shares of Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Piper Sandler lifted their price objective on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America lifted their price objective on shares of Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Truist Financial lifted their price objective on shares of Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $221.60.

About Assurant

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.